Belgian bid may mean new hope at Vauxhall

Vauxhall's 5,000 workers in Britain may have cause for muted rejoicing.

Hopefully: Vauxhall staff could be saved if RHJ's bid is successful

Belgian financial investor RHJ's £238m offer for a 50.1% stake in General Motors' Opel business could beat off a rival bid from Canadian auto parts group Magna International Inc.

RHJ is thought to be planning wide-scale redundancies of about 9,900 across Germany, and Britain's Luton and Ellesmere Port plants.

But Magna is considering moving Opel production to Russia, said a Vauxhall insider last night.

'Things have been tense since GM said it wanted to sell a majority shareholding in Europe,' he said.

'There may be 5,000 workers in the UK but if you take in the supply and retail network right down to the man at the corner shop selling sandwiches to the workers, there are 30,000 people dependent on the industry.'

It has seemed until now that Russian-backed Magna would win the race. It is said to be backed by German chancellor Angela Merkel.